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Frequently asked questions

Scroll down to see answers to things we get asked a lot. If you're looking for something specific, enter or choose a keyword below.

What is a CalABLE account?
A CalABLE account is an investment account available to eligible individuals with disabilities. CalABLE accounts are made possible by the federal Achieving a Better Life Experience (“ABLE”) Act. These accounts allow individuals living with disabilities to save and invest money without losing... Read more
Are CalABLE accounts like my bank checking or savings account?
CalABLE accounts have some similar features, but they are not checking or savings accounts. CalABLE accounts are a special form of investment account. You will be saving or investing your money in different options provided. While you can still withdraw and spend your money as-needed, CalABLE... Read more
What is ABLE to Work?
The ABLE to Work Act, effective January 1, 2018, revised the Internal Revenue Code applicable to ABLE accounts to permit eligible employed beneficiaries to save more in their ABLE accounts. Over and above the standard Annual Contribution Limit ($18,000 for 2024), a working beneficiary is allowed to... Read more
Where can I find my account number?

You can find and edit all the information about a CalABLE account on the settings page — including contact info, condition, customization, money allocation, and yearly goal.

How do I change my address?
If you’re the beneficiary of an account, or an Authorized Legal Representative (ALR), you can update your address directly from your profiles, accessible through the dashboard. As an ALR, you can manage a beneficiary’s address (where all statements and communications are sent if you select to... Read more
Who is Sumday?
Vestwell State Savings, LLC, dba Sumday Administration, is the plan manager for CalABLE and provides the online platform. Vestwell Holdings, Inc. is backed by some of the world’s largest financial institutions, and is committed to improving lives through investing — while staying true to Vestwell’s... Read more
Who is Vestwell?
Vestwell State Savings, LLC, is the plan manager for CalABLE and provides the online platform. Vestwell Holdings, Inc. is backed by some of the world’s largest financial institutions, and is committed to improving lives through investing — while staying true to Vestwell’s commitment to help close... Read more
Do I have to pay taxes on my account?
As long as the money in your CalABLE account is used for qualified expenses, it will not be counted as income for your state or federal taxes. If a purchase or other expense doesn’t qualify as an eligible expense, you’ll have to pay taxes and a 10% penalty on the interest portion of the amount... Read more
How is this different from a Special Needs Trust or Pooled Trust?
A CalABLE account does not replace a Special Needs Trust or Pooled Trust. There are some key differences that are meant to give people living with disabilities and their families more options.  With a CalABLE account:  There are fewer expenses than setting up a trust.  The beneficiary owns the... Read more
What happens to my state and federal benefits?
Your CalABLE account will not count against your eligibility for federal or California state benefits, unless your account exceeds a balance of $100,000. Once your account exceeds $100,000 your SSI would be suspended and your eligibility for California state and local means-tested programs could be... Read more
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Sign up and start saving

Once you are ready to enroll, you can set up your account here online. When opening a CalABLE account, make sure you have ready identifying information about the beneficiary, the qualifying disability, and how the CalABLE account will be funded.

Create your account

Events

Find out about the upcoming events for CalABLE.

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Still have questions?

You can contact us online, give us a call Monday through Friday, at 1-833-225-2253 from 6am–5pm PT, or you can browse frequently asked questions.

Individuals with speech or hearing disabilities may dial 711 to access Telecommunications Relay Service (TRS) from a telephone or TTY.

Go to FAQs

Consider the investment objectives, risks, charges and expenses before investing in the California 529A Qualified ABLE Program (CalABLE Program). Please call toll-free 833-Cal-ABLE (833-225-2253) or read our Program Disclosure Statement (PDF) containing this and other information. Read it carefully.

Before investing in any ABLE program, you should consider whether your home state provides its taxpayers with favorable state tax or other benefits that are only available through investment in the home state's ABLE program. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to directly contact your home state's ABLE program, or any other ABLE program, to learn more about those plans' features, benefits and limitations. State-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The CalABLE Program is offered by the State of California. Vestwell State Savings LLC is the program manager. Vestwell Advisors LLC is the investment advisor registered with the Securities and Exchange Commission.

None of the State of California, its agencies, Vestwell State Savings LLC or Vestwell Advisors LLC nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment option, and you may lose the principal amount invested. They also do not provide legal, financial, tax, or investment advice to any individual. The FDIC-Insured Portfolio is FDIC-insured up to $250,000, subject to certain restrictions. Interests in the CalABLE Program are not registered with or in any way approved by the Securities and Exchange Commission or by any state securities commission.

The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Statement.

The Plan Web site contains links to other Web sites. Neither the Plan nor Vestwell State Savings LLC and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

The Prepaid Card is issued by Sunrise Banks N.A., St. Paul, MN 55103, Member FDIC, pursuant to license from Visa U.S.A., Inc. This card can be used everywhere Visa debit cards are accepted. Use of this card constitutes acceptance of the terms and conditions stated in the Cardholder Agreement.

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